In the previous fiscal year, a total of eighteen prominent real estate developers successfully sold properties valued at Rs.1.17 lakh crore.
Notably, Godrej Properties emerged as the leading player, recording sales bookings amounting to Rs.22,527 crore.
It is worth mentioning that the majority of major developers experienced an increase in sales bookings during the financial year 2023-24, surpassing the figures from the previous year.
This was largely influenced by strong demand for residential properties, especially luxury homes, across major cities of India.
In the 2023-24 fiscal year, numerous developers achieved exceptional pre-sales figures due to a significant increase in consumer demand. Based on data gathered from regulatory filings, eighteen prominent real estate companies that are listed on the market have collectively reported sales bookings amounting to approximately Rs.1,16,635 crore.
This represents a 33% growth compared to the previous year's sales bookings of nearly Rs.88,000 crore. The majority of these sales bookings, which totaled around Rs.1.17 lakh crore, were attributed to the residential sector.
Dhruv Agarwal, the CEO of Housing.com and PropTiger, expressed his admiration for the impressive achievements of the real estate companies listed on the market. According to him, these firms have achieved remarkable success thanks to their well-established brand reputation, diverse range of properties, and excellent access to financial resources.
Furthermore, Agarwal noted that the experienced management teams of these listed realty firms, along with their utilization of advanced technologies in marketing, sales, and customer service, have played a significant role in enhancing their market standing.
He quoted, “These elements collectively contribute to their outstanding sales performance, giving them an edge over smaller or non-listed peers."
Godrej Properties has emerged as the top listed player in sales bookings for the 2023-24 fiscal year, recording pre-sales of Rs.22,527 crore.
Meanwhile, Prestige Estates Projects, headquartered in Bengaluru, secured the second spot with sales bookings totaling Rs.21,040 crore.
DLF, the largest real estate company in India, recorded sales of Rs.14,778 crore in the previous fiscal year. Macrotech Developers achieved pre-sales of Rs.14,520 crore.
Signature Global had exceptional sales bookings of Rs.7,270 crore, more than double the previous year.
Bengaluru based Sobha Ltd and Brigade Enterprises sold properties worth Rs.6,644 crore and Rs.6,013 crore respectively. Puravankara Ltd achieved significant sales bookings of Rs.5,914 crore.
Mumbai-based Oberoi Realty, which is the major player in the luxury segment, sold properties worth Rs.4,007 crore last fiscal.
According to the realty experts, following the COVID-19 pandemic, the surge in sales bookings among key players in the industry can be credited to the robust housing demand and the preference for companies with proven track records in project execution.
The momentum towards branded and reputable players in the real estate market has been fueled by the consolidation of consumer demand. Homebuyers are increasingly averse to the risk of being trapped in unfinished real estate projects after making their payments.
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